Opec accuses Bush of threatening energy security

The Opec oil cartel on Tuesday hit back at President George W. Bush, criticising the US and other consuming countries for pursuing energy policies that threatened energy security and the global economy.

Moving away from oil made it more difficult for producing countries to invest the billions of dollars needed to ensure enough output to meet future demand, the Organisation of the Petroleum Exporting Countries, the group that control's 40 per cent of world oil supplies, argued in the commentary of its monthly Bulletin magazine.

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